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: CL&P Blog

GMAC Mortgage Halts Tainted Foreclosures

By Alan White

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Bloomberg has a report today that GMAC is halting foreclosures in 23 states due to unspecified defects.  Apparently this action results from depositions of an employee who admits to signing tens of thousands of summary judgment affidavits and lost note affidavits with no knowledge of whether any of the facts being affirmed are true.  This is another illustration of the need for stronger enforcement of laws and rules governing mortgage servicer conduct, at a point when the stress of foreclosure volumes inevitably leads to shortcuts and worse by mortgage collectors.

Full post as published by CL&P Blog on September 20, 2010 (boomark / email).

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